Chinese YTO tractors to be assembled in Azerbaijan
By Sara Israfilbayova
Chinese YTO tractors will be assembled in Azerbaijan`s Gusar region as local company Stocking and Supply of Food Products signed a MoU with YTO Group Corporation on May 16.
Under the memorandum, 800 mid-size (18-40 horsepower) YTO tractors will be assembled in Azerbaijan per year.
The tractors will be leased out to local farmers with a low interest rate through Agroleasing OJSC.
Farmers will pay 20 percent of the cost of equipment in advance, while the rest needs to paid within 10 years (120 months).
China is one of the main trade partners of Azerbaijan - the country is on the fourth place in the trade turnover of Azerbaijan for four months of 2017.
Trade turnover between Azerbaijan and China amounted to $395.56 million in January-April 2017, $183.79 million of which was exported to this country, according to Azerbaijan’s State Customs Committee.
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